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ARTICLE · 30 AUGUST 2022

A Look At The Screening Of Third Country Transactions Bill

Maples Group
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Maples Group

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The Screening of Third Country Transactions Bill 2022 ("Bill"), published by the Irish Government on 2 August 2022, aims to implement the first screening process for foreign direct investment ("FDI")...

IrelandGovernment, Public Sector
Colm Rafferty
Colm Rafferty
Patrick Quinlan
Patrick Quinlan
Morgan Pierse
Morgan Pierse
Jordan O'Brien
Jordan O'Brien
William Darmody
William Darmody
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The Screening of Third Country Transactions Bill 2022 ("Bill"), published by the Irish Government on 2 August 2022, aims to implement the first screening process for foreign direct investment ("FDI") in Ireland.

The Bill will require that certain investments in critical Irish industries that may present risks to the State's security or public order be reviewed by the Minister for Enterprise, Trade and Employment ("Minister").

The Bill's publication follows on from the EU Regulation (EU) 2019/452 establishing an FDI screening scheme, which addresses EU Member State concerns on the purchase of strategic European undertakings by third country (i.e. any non-EU / EEA country other than Switzerland) undertakings, while maintaining the EU's strong support for FDI.

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